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, repeat, decline in median income in the obama years. averaging income down even more, and there's more on that. two big-name employers cut health care coverage because of obamacare. do you remember that promise, you could keep the coverage you like, not happening. today, the president starts a bus tour, speaking to friendly college audiences. he'll push a free ride for college students, funded in part by taxpayers. that is the theme of the show today. the middle class, struggling big time and getting more of the same from the president. "varney & company" about to begin. ♪ make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you start using active trader pro today. >> 11:15 eastern this morning. mark that time. president obama will make his pitch to the middle class. his bus tour of college campuses in new york and pennsylvania will start today. here is the talking points. more of the same. tax and spend policies, but here is the reality. since the president took office, unemploy
% of those surveyed say president obama's recent economic speeches offer nothing new. result of that? 52% of that say they disapprove of the job president obama is doing, and get this, 74% say we rely too much on the government, food stamps, welfare, saying it's too easy to get government handouts. new polls. the numbers suggest the country has a negative view of the president's performance, and his economic agenda. however, investors clearly do not have a negative view of tesla, the electric car company. they sold more cars than all the oh-so-clever analysts expected, and tesla is expanding with a backlog of orders, and look at this, the stock up big, 10-12% of the opening bell. it's not the only stock up. a higher open in a couple minutes, but firsts though, there's this. three winning powerball tickets sold, two in new jersey, one in minnesota. they will split a $448 million jackpot, no identity on the winners yet, but one thing's for sure. they all pay a huge chunk of the prize up front in tax. more on that later in the hourment i'm going to call government lotteries a lousy deal. sh
, and if it happens, they scale back even more like what we see under obama care, another layer to the issue here. >> those who already pay more than the wage now, the fear is what? >> the workers who are striking for more money, their jobs, their hours, they get cut. >> okay. neil: i have a property tester on the phone. terrance, i don't know if you heard arguments that might make you pause in the rush to see the minimum wage doubled, what do you think? >> i think the franchise say the cost of all funnel to the customers, it should be the parent customers working with the franchises to work on their prices and how is not to funnel cost to customers to give us a livable wage. neil: even if you do that, terrance, do you think there's enough switching on the top, you know, shifting things over, you know, as they pass along some of the savings to the franchises that that's going to be enough to pay for doubling minimum wage. >> caller: it's enough to pay workers better. neil: maybe better, i'll take a leap and say "maybe better," i don't know if it's better for companies longer term, but better is v
years by the clinton state department and the obama white house, and i do concede that it's a complicated situation. neil: now, i know, secretary, we're not into regime change and that whether this is the obama administration's way saying we're not doing wha bush, rumsfeld, and cheney did. you know the line. we're going to keep the guy in power. it's not about taking him out of power. it's about defanging him. let's say he takes the chemical weapons away, secretary. he still has guns, has tanks, has the power to kill his people, all be it not with chemicals, so, for what? >> caller: neil, he's estimated to have killed close to a hundred thousands syria people before the use of chemical weapons. neil: exactly right. >> caller: if this is a humanitarian mission, what's interesting, seems to me, is that we -- there has not been any indication from the administration as to what our national interest is with respect to this particular situation. if you think of what's really important in that region, it is two things. it's iran's nuclear program and the relationship between ira
for a crews missile strike. president obama is down playing intervention without a mandated from the u.n. mystery soft. we now know where samantha power was when there was an emergency u.n. meeting. she was on a personal trip to ireland. power missing that meeting just 19 days after she assumed the post. also new this morning, grammy winning singer linda ryanstat is revealing she has been dealing with parkinson's disease ♪ always breaks my hart in two. >> recent interview with the arp the 67-year-old music legend says she was diagnosed 8 months ago has been experiencing symptoms for as long as 8 years. ron stat says that the neurological disorder has left her unable to sing and she must now travel using a wheelchair. army major nidal hasan found guilty on all counts in the fort hood shooting rampage. he sat stone faced as that verdict was read. sentencing will begin on monday. hasan faces the death penalty for killing 13 people and injuring 30 others when he opened fire nearly 30 years ago. all 14 jurors must vote for execution or he will get life in prison. if you write a letter to
that the protesters were waving banners that said president obama supports the radical islamic government that is oppressing us. what a sad state of affairing when the united states is arm and arm which the islamist governments. >> we have many more displaced and it seems we have gotten to the point where our allies don't trust us and our enemies don't fear us. >> if there is one principle that has proved true, it is that bullies and tyrants don't respect weakness. enemies have learned there is little to fear and the dangerous escalation to this has been assad's patron in iran which continues to develop nuclear weapons which i think would pose a huge national security threat to the united states. you and senator rand paul have been involved in the effort to defund obama care and you said the only way it will happen is if a grass roots tsunami takes place in washington. what are you looking for? let me tell you. we are getting real momentum. there is a national website, don'tfundit.com. it has 578,000 signatures on it. we have seen 10 or 20,000 signatures. i keel confident with the hanity
in a meeting with president obama talking about the nsa and your privacy. and harkening back to a time when this dude, kevin costner, was starring in "the untouchables." and who wants these guys, blackberry wants to go private may be. the idea is catching fire. the matter of who wants to put the money down on this troubled cell phone company. and a quick fix for unemployment, energy, people. how we can get americans back to work and solve the energy problems in one swoop. that and so much more on this hour of "markets now." ♪ dagen: so i did not fall and bust my you know what trying to sit down at the top of every show, so it has been a good week. let's start this hour with market stocks on track for another losing day. snapping the three-day winning streak yesterday, but heading south. nicole petallides at the new york stock exchange. nicole: it has been a good week. i will celebrate with you. a successful week. i look at what we see on wall street down half of 1%. 15,422. a loss of about 82 points. we did snap the losing streak since yesterday. however still remains a losing week on wal
another gas attack. >> and you find low public support, you find low congressional support. and obama is going to need to contend with. there hasn't been a clear articulation of what we're going to achieve and how we're going to do it. i think once someone stands up and does that, then you can test the support that you'll get. >> michael, thanks for that reasoned analysis. we appreciate it. getting up early, though he's on the east coast. >> thank you. >> that was most recent analysis i've heard in a long time about having an objective as opposed to just sending a signal. >> largely symbolic. >> it feels like we have been forced into it. we'll have mccain on. he's railing against general dempsey, who says, you know, said let's show much reticence to do anything that it emboldens -- in his view, emboldened these guys. all right, coming up, how twitter is learning from some of facebook's ipo mistakes. first, as we head to break, let's check on the national forecast with the weather channel's alex wallace. >> good morning to you. good morning, we're tracking some showers moving from the
morning. >> reporter: the obama administration not only strongly condemning the violence but calling for restraint and calling for the interim government to respect the rights of the people there. josh earnest saying that the u.s. will continue to hold the egyptian government accountable for the promise they made to speed up the transition to a democratical democratically elected government. but what's missing in all of this is what then? we do know there have been a lot of conversations between u.s. egyptian officials. but still more than a billion dollars in aid continues to flow from the united states to egypt. the white house saying that that aid is under review. one other point is that the white house still will not call what happened in egypt a cue. officials saying it's been determined that it's not in the best interest of united states to do so. a lot of tough talk from the obama administration, but no concrete steps on what will happen next. in the meantime, the president continues on his vacation here on martha's vineyard. no word on whether we'll hear from him in the comin
to defund obama care. so ted cruz, he's a player. >> just ask him. >> no. listen, he's going to iowa and people are going -- >> people like him. people are excited about him. >> why? >> i think he taps into -- >> because he's a cade nade yan. >> the sinking sarah palin base, people that were excited about sarah palin, have now transferred to ted cruz. >> and michele bachmann. >> so that is a vibrant part of the republican party, love them or hate them, they look every two to four years for someone that will champion their animosity towards the large federal bureaucracy. >> it's resentment. >> animosity. >> resentment. but it's the sarah palin supporters, the herman cain supporters in a sense the donald trump supporters. you line them all up and that's -- and we have people going out there -- who knows. maybe cruz is going towards 2016 more powerful because instead of tripping over, you know, sarah palin and herman cain and michele bachmann and all these other people, maybe he has that space all to himself. >> but what -- >> and then there's rand paul the libertarian. >> which is so m
speeches in front of friendly audiences. mr. obama claims middle class progress. but the facts contradict the claims, on income, jobs, on health care costs. the middle class is losing ground and the pace of decline is speeding up. we have a full report. and on obamacare, the list of local governments switching to part-time workers is growing. and there are 38 days till those chaotic insurance exchanges. what on earth is going on at the nasdaq stock exchange. was the three-hour freeze just another computer glitch? steve ballmer out at microsoft and the stock takes off. ooh. "varney & company" is about to begin. you know throughout history, folks have suffered from frequent heartburn. butetting heartburn and then treating day after day is a thing of the past. block the acid with prilosec otc, and don't get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. zero heartburn. >> friday morning and breaking news for you, just crossing the wire. microsoft's chief steve ballmer will retire in the next few months until a successor is named. the stock is straight up. a
contributor. what do you make of this? >> president obama was running a company, a business that provided goods and services he would be sued for false advertising because he has misled the american people. connell: people will be covered elsewhere. >> the other point is you can keep your current insurance. that is the thing. we are talking 15,000 spouses, family members who have to seek health insurance elsewhere so obama sold the affordable care act on the fact that it will be cheaper and you can keep your insurance when in fact americans have been misled. connell: people were expecting to keep their own insurance and in this case spouses who have jobs themselves need to go to another potentially another insurance company and go through there a player. would you think of it? >> the reporting on this is ups repeatedly cited obamacare as the reason for this but it is not clear why obamacare would have caused this especially because they said it is only for spouses who condemn their coverage elsewhere which means if they have a job where they have coverage under their employer that they ca
, president obama returns from vacation and plans to sit down with the leading financial market regulators today. opinions from both sides of the aisle next. right now, 7 years of music is being streamed. a quarter million tweeters are tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together. pcentury link provides reliable yit services like multi-layered security solution to keep your information safe & secure. century link. your link with what's next. >>> welcome back to "squawk box." president obama will be sitting down with the leading financial market regulators today to discuss their progress or lack of progress in implementing dodd/frank. joining us to talk about it, tony frato and jerod bernstein. hi, guys. >> hi, andrew. >> before we even go there, i have a joe question for jerod. i don't know if you heard u
obama getting back to business. meeting with financial regulators about implementing dodd-frank peter barnes has the very latest. peter: that is just one of the latest things he has on his plate. very busy with things like egypt and syria. the president would like to keep the focus on jobs and the economy. foreign-policy issues may not let him do that. he goes on a two were later this week. congress is out on its regular august recess. he has a megaphone right now and he needs to use it while he can. >> every president in their second term, lame ducks get closer every day. the president is walking a fine line of where he is in that timeline. peter: the end of the fiscal year is september 30. they have not worked out a deal to fund the government. they are looking at a continuing resolution of some kind that will buy more time. the debt ceiling is likely to be hit around october and november. have been reporting on this. he is looking at larry summers, his former economic advisor, as well as janet yellen. lori: funny you mention that. thank you, sir. charlie gasparino will join us to t
by obama just a couple days after the jackson hole meeting here. but there is uncertainty over fed policy. there's a certainty over leadership and economic growth. all those things loom large here. and will be spending the next couple of days trying to figure out if we can get some guidance over where the fed is going here. the absence of a definitive statement by the fed chairman will have to mean another time to happen, simon. >> this is of their own making. the problem with nailing your colors to the mass with forward guidance is it doesn't work if you don't know where you're going to guide people to. if you're split or indecisive. that surely, steve, is what is happening here. they raise the question of tapering. you get the interest rates rising. you feel the pain around the world. but when you actually get to tapering you're not sure if the growth is going to be strong enough because you're not really sure if the fed has the courage of conviction at all. the market will find it very difficult to rally on it. >> you know, i like that analysis, simon, because you're right. you hitch y
question about obama's policy, reagan rolled back government. he cut back taxes. all obama has the exact opposite. you have to do the exact opposite of what obama has done. connell: listen to monica crowley on some stations. charles payne is coming up. he will talk to you about harley-davidson. why haven't we done something about this? workers are getting ready to walk off the job. first, we mentioned oil a second ago. we will be right back on markets now. ♪ [ male announcer ] at his current pace, bob will retire when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on hisortfolio. and with some planning and effort, hopefully bob can retire at a more appropriate age. it's not rocket science. it's just common sense. from td ameritrade. it's just common sense. a quarter million tweeters is beare tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% less energy. and costs 77% less.
that was an interesting comment. obama canceled his meeting with vladimir putin right after the appearance with the jay leno with tub long list of topics including average snowden being granted asylum. >> i was disappointed because even though we don't have the extradition treaty with them, traditionally we have tried to respect is there is a lawbreaker or alleged lawbreaker in their country we evaluate and try to work with them. they did not do that with us. and in some ways it is reflective of the underlying challenges we have had with russia lately. lori: des prez incumbents and a recent summit he had. >> you look at me with the nbc executive. what is going on? [laughter] that was a news making interview. >> i am not sure that was his place to do that. >> aol has agreed to buy a 405 million cash and stock it was bigger than the a will purchase of the huffington post. c02m armstrong says it will help to integrate advertising with video content. the deal will close in september. the week-long furlough has been announced with the technology group starting augus. they will receive one-third of pay while
's start with the biggie. >>> the obama administration now warning of a mid-october default deadline. treasury secretary jack lew saying that the government is going to exhaust its borrowing capacity at that point, and then it would be left with about $50 billion of cash on hand. he warns that amount could conceivably be wiped out in one single day. our own john harwood's going to be sitting down with the treasury secretary for an exclusive interview and we're going to have that and bring it to you at 7:30 a.m. eastern time. >>> in other washington news, the white house preparing to release intelligence evidence alleging the use of chemical weapons by syria. secretary of state john kerry called last week's attack a "moral obscenity," and he's laid out the case for a u.s. military response. >> anyone who could claim that an attack of this staggering scale could be contrived or fabricated needs to check their conscience and their own moral compass. what is before us today is real, and it is compelling. so, i also want to underscore that while investigators are gathering additional evid
in overturning an appealing obamacare. neil: thank you very much. >> in queue. neil: out the help of barack obama over the top. right now they're looking a mark on. neil: it's time for cavuto clash. it self respecting journalist was a mind in a fight to the finished at match debate. they sure as hell did not intend to lose. lizzie borden macdonald. while there are gnashing, let's get them clashing. front and center, unions joking in dying fast. knocking down the latest attempt to smack down the michigan right to work offers to workers. another judge in indiana. the eu said this. to sort of elevating. but to you first. >> so much show that the afl-cio has said the rear in a crisis. also move to a unionized restaurants. nonprofits. if he feels he has to reach out to unionized organizations like the sierra club and the naacp, we are in a new world for unions neil: that would be like a double jeopardy. what to you think? >> having a death battle here. of course. neil: a big element of surprise. >> i'm happy to fight. you know that. but yes, they are in trouble. you'll wake up as a country and find ou
at the federal reserve annual compass -- fly-fishing extravaganza. president obama's that law schools in the u.s. should be cut down to two years instead of three. students learn all they need from a classroom in two years. i am wondering who asked him. it is all part of this 2-day bus tour promoting ways to cut costs for students. those are some of the house stories right now on foxbusiness.com. and coming up, mortgage rates jumping. home sales plummeting. is this housing market recovery really for real? and next, officials say it was only a 30 minute problem at the nasdaq. why was that stock trading shut down running for three hours just today? we will take a look at the mixed messages on the flash freeze. ♪ in today's markets, with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choo
, and how do you prevent that from an open-ended involvement in a war that clearly president obama and the united states military does not want to get involved with in a deep way. >> the public apparently has no appetite for any other conflict? russia immediately said, you know, don't -- you people don't need another adventure in the middle east like iraq and iran. obviously saying the same thing. it's really tough. it's really tough for the president to try to walk. >> reporter: it's more than tough. and you saw assad in an interview with a russian newspaper yesterday saying -- warning the united states that you get involved again, there's going to be a failure like all your interventions in the past. clearly the lessons of long and protracted wars have weighed heavily on the president. this is a president, after all, who got into politics, opposing the iraq war. says he doesn't oppose all war, but he opposes dumb wars, and it's pretty clear from his language and body language and the entire stance of the united states over the last several months that he believes it would be dumb
with samsung. the obama administration vetoing a ban on apple products. share of samsung are falling in asia. >> tv blackout, battle between time warner cable and cbs show nothing signs of letting up. >>> the terror threat overseas. many u.s. embassies stay closed now until august 10th. a live report from nbc's pete williams. >>> first up, if you didn't see it, u.s. equity funds saw a record inflow in july. according to trim tabs funds saw $40.3 billion coming in last month while bond funds saw the fourth highest outflow on record. david seeburg at cowan. good monday morning to you. >> good morning. >> david, is this the beginning of something new? >> it seems to be. i mean, $40 billion in july, amazing. still a ton of cash on the sidelines. there's about $9.5 trillion in xhrgs bank deposit and money mark accounts, companies obviously corporate balance sheets reflecting cash. m&a starting to pick up it's the beginning of a rotation that we expect to take equities higher. >> peter, how do you read things here. >> s&p gone from 666 to 1700 without the retail investor. retail money's coming in,
some numbers with it? >> that was like the perfect storm. you had obama fighting for the debt ceiling. you have the beginning of the love trade in india and the middle east. all of that demand was just massive. emerging markets have been slowing their overall growth. if we go back to a store and a fight in congress and we have a strong pickup in gdp and emerging markets, you can see gold trade to that level. on a price adjusted basis, gold would be at $2300. it is still attractive. tracy: you are absolutely flooring everyone who bought gold. you are getting everybody excited. frank holmes, thank you for making this bullish case on gold. we will see what happens. ashley: oil closing down. today had a loss of 2%. the second straight day back group has closed lower. rich edson traveling along with lawmakers in california. he joins us now with more on his exclusive interview. rich: there are significant differences. republican saying we do not want any more tax revenue. democrats say they want up to a trillion dollars more. we asked them, are they on the same page? >> we are both working
. neil: out the help of barack obama over the top. right now they're looking a mark on. the boys used double miles from their capital one ventureard to fly home for the big family reunion. you must be garth's father? hello. mother. mother! traveling is easy with the venture card because you can fly any airline anytime. two words. double miles! this guy can act. wanna play dodge rock? oh, you guys! and with double miles you can actuay use, you never miss the fun. beard growing contest and go! ♪ win! what's in your wallet? win! and you wouldn't have it any other way.e. but your erectildysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest
.s. treasury. president obama is calling for both lenders to be shut down. diana olick joins us now from washington to explain why. morning, diana. >> good morning. and, you know, profitability just has nothing to do with it in the eyes of the obama administration. both fannie and freddie reporting big earnings, profits, yet they're still held to blame for much of the housing crash. >> for too long these companies were allowed to make huge profits buying mortgages knowing that if their bets went bad, taxpayers would be left holding the bag. it was heads we win, tails, you lose. and it was wrong. >> that was then and this is now. fannie mae reporting net income of $10.1 billion and paying the treasury $10.2 billion in dividends. that brings the total to $105 billion paid to uncle sam which bailed out fannie mae in 2009 buying $117 billion in senior preferred shares of stock. these dividend payments though do not go to pay back that bailout. treasury still owns that stock. and on the conference call this morning, fannie mae's ceo said that profitability should not slow the appropriate deba
notes, you said a missile attack would only make president obama look weaker. why? >> if it's just a missile attack to signal open session to chemical weapons and assad goes ahead with future chemical weapons attacks, then that makes the u.s. look irrelevant. so it has to be strong enough to deter a future use, strong enough to send a signal not only to damascus but to iran that red lines, once they're made and, you know, we can discuss the wisdom of making a red line before you no ewhat you will do to enforce it, but once the red lean is out there, it's important not only in terms of the syrian crisis but in terms of the looming iran nuclear standoff. >> so what are you advocating exactly then? if missiles are not going to be strong enough, what would be? >> i think it has to be, well, the administration has boxed itself in on this attack. but this attack only makes sense if it's a part of a broader strategy to act sell rate the fall of assad, to strengthen moderate opposition groups within the opposition coalition, because it doesn't make sense to overthrow assad if al qaeda affi
, and other places, the theory is the white house and obama administration is baiting the republicans now to go forward with what we were talking about was pushing for the debt ceiling debate and for shutting down the government. do you think that's what's going on at the white house? they really want it and think they can benefit from this politically? >> well, the political die dynac here is clear. that's why you are hearing from a range of republicans, especially the older, tea party republicans that history indicates that every time you come to this precipice of shutting down the government, refusing to raise the debt ceiling, republicans get blame. the leadership, republican leadership is saying we don't want it, cantor's words, in part because they see it as politically exposing them to damage in the 2014 races so it's highly a political conversation. the white house, by the way, you said, is the white house baiting them? i don't know if they are baiting them, but glad to let it wait and let republicans skewer themselves. connell: could that backfire or is it clear the republicans h
states. the obama administration has said the use of chemical weapons would cross a red line. what happens now? we have live team coverage overseas and washington. let's start first with arwa damon live from beirut. what's the latest you're hearing, arwa? >> reporter: those images are so hard to watch and it's absolutely horrible scenes of lifeless children, doctors trying to desperately resuscitate others. i just spoke via skype with a doctor who says he is in syria, we cannot independently verify that. he said they're struggling in primitive conditions, unable to attend to all of those who are suffering the side effects of what he is also saying was a chemical attack. they look atroprine and oxygen. another volunteer medics throughout all of this, if you'll remember, he was describing the symptoms he personally felt. he said he initially lost vision and then he lost all feeling in his body, and at one point, he collapsed. now this is not the first time that we've heard claims of chemical weapons being used in syria. it is, however, the first time that the death toll from any of t
obama raised red flags in the spring. and in a letter to the congress, sebelius warned that up to 70,000 children would lose access to head start. is that figure close enough to be called truthful? >> yeah. don't you think, 57,000 children not getting services that they would typically get otherwise. this is services preparing kids for school. >> reporter: pam shah is president's of california's head start association and operates or partners with eight centers in the east bay. there are other side effects besides students losing slots. her programs had to slash school supplies, close down a center and lay off substitute teachers. the 57,000 figure doesn't tell the whole story. >> i think other people are doing the same thing trying to keep as many slots as they can keep. >> reporter: lillian covers early education for ed source and says that the 5600 slots lost in california are on par with what state educators have predicted. but the fallout is still greater. >> there is a big range of how each program has run. but cutting days has been the most popular way to avoid cutting childre
-house computer. >> interrupt your job again. >>> it's been three years since president obama signed the dodd-frank financial reform bill into law. the president hat gotten back from his vacation and immediately met with regulators today to push to speed things up. john harwood at the white house with the details. john, what can you tell us? >> reporter: maria, the meeting just broke up, it lasted over an hour. i spoke with mary jo white, gary gensler, as they walked down the white house driveway out of the complex. their description matched what the administration had said going in. it was a pep rally by the president to encourage regulators to finish the work. fewer than half of all of the regulations have been drafted. mary jo white said top priority is the volcker rule. this is just one of the elements on the president's economic agenda this week. he's also going to be giving speeches in upstate new york later in the week to push his vision of a middle-out economic growth agenda. and the president also, of course, is going to be working on the selection of the next fed chairman. ben berna
and the health care worries and back and forth on the taxes and obama wants more and we are tapering. perfect. just great. >> well, things could be worse -- you could be in india and watching the currency decline by 4% per day. >> you could be in indonesia and watching a similarly currency going down. >> the rupee. >> yes. and that is a fact. >> and the fact is that the dollar buys more rupees than you can see, whoa! any time a major currency moves almost 4% in a day, this is of course, the impact that you would expect of making indian exports cheaper which will benefit us, but a consumer-led economy there where they are trying to bring it in is complicated and then bring in a lot of goods and send them in and back out, and the equity markets there have not been performing well. >> and you are, we have not talked enough about the merging markets. >> well, they have been crushed. when you talked about the taper talk or the okay, what happens when, and forget about when qe ends, because it is not that the merging markets will take et the worst, because all they are built on is cheap money, and
" top spot making $25 million. >>> president obama in washington after a vacation at martha's vineyard. he's got his work cut out for him. egypt, regulation and funding the government. john harwood joins us with the latest. what's top priority? >> top priority for the president that is meeting with financial regular laters. he returned from martha's vineyard to a vacation buffeted by the conflict in egypt and other things that are pressing on a national security basis, more revelations about the nsa as well. he's got a very economic, heavy agenda as he comes to back to washington. congress is still out. he meets with the whole array across the government of regulators about trying to keep pace with implementation of dodd/frank, only 40% of the regulations are done. volcker rule is most important, trying to get that done by the end of the year. the president has also got speeches in upstate new york to press his agenda for a middle out economy. that is not likely to go too far with republicans but he's trying to soften up the ground for the fiscal debates this fall. the president has th
to work. >> you pass laws that make it more expensive to hire like obama care or raise the minimum wage, that hurts young people dramatically. >> simple cause and effect for how it is happening. people at the high end are hogging more of the overall income, that's not simple enough to explain what is happening here. >> i wouldn't dissuade you of that view. we talk about minimum wage. you don't necessary necessarily think that's t think that's wait to go either. >> this is why the huffington post writes about you, from a negative. you do sound reasonable at times. >> i can't -- >> not all the time. no. not under any means, but okay. >> coming up, why the markets were so confused by yesterday's fed minutes. did you see the intraday chart from yesterday? up, down, all over the place, crazy. what you should expect in today's session. "squawk box" will be right back. i hav e low testosterone. there, i said it. see, i knew testosterone could affect sex drive, but not energy or even my mood. that's when i talked with my doctor. he gave me some blood tests... showed it was low t. that's it. it
time. part-time jobs go along with the obama health care thing. liz is all over this with lizzie mack's bottom line. >> looks like the same debate that spouses have at kitchen table on what is going on with health reform. you know what is strikeing? this is based on government data from the bureau the labor statistics. of 963,000 jobs created, this is based on household survey, a whopping of were part-time jobs, 737. that is driving down household median income. it is helping to undercut gross domestic product, the consumer 70% of the u.s. economy. what we're seeing also, is, companies, i have the memo from forever 21, they're blaming health reform. a growing number about companies we're tracking last two years are blaming health reform. forever 21 will drop associates and other employees to part-time status. other companies are basically dropping workers to part-time status. majority of those companies we showed are blaming health reform. the other thing too that is striking, new study out of san francisco federal reserve which is the turf of janet yellen, may be the next fed chief,
a lot of dough, the president, current president, president barack obama, ramped it up. there was no chirping then. i didn't hear chirping going we're going to hit $16 trillion at midnight, let's party! no. but the effects of less government spending definitely going to slow things down because you're not paying for it but it's a good thing. somebody broke the silence, i think it was bank of america, victoria mcgrain from "wall street journal" wrote a piece on wall street journal.com and it talks about the agenda for jackson hole. it's august 22nd to 24th. think about what i was saying. wouldn't it be nice if central bankers got together and tried to really figure out how to solve some of the structural issues? but the topics that were put forth, same old thing. the natural rate of interest, financial prices at zero lower bond, the transition of unconventional monetary policy. global liquidity, cross border cap flows. it seems to me that these are the same old topics, the crisis has come and gone. maybe we need to shake things up a little bit like one of those snow glob
moved behind the scenes to quash the campaign and are insisting that obama not be pressured as he mulls to nominate. >> the president does not like people trashing those he is seriously considering for big jobs. he plainly likes larry summers. there has been a campaign against summers within the senate. you had a significant block of senate democrats who were signing their names to a letter, essentially endorsing yellen. democratic senators have publicly raised questions about whether larry summers would fit in that job. and the president doesn't like being hemmed in. we have seen this at his press conferences. saw it when he went to the hill and talked to democrats and defended pretty forcefully larry summers as somebody who had helped him a good bit, who has a lot to offer. he has been -- summers has been believed to be the front-runner for the job. don't know to what extent that is still the case. but the president doesn't like to be dictated in these sort of scolded his democratic colleagues. >> we have been looking at this, this opposition in the senate and other places that have b
to stop president obama reform plan. they said they should remember the political backlash the republicans suffered in 1995 and '96 because of the government shutdown. he says he is committed to stopping obamacare. we will be watching retailer aeropostale today. they say it expects another loss for the current quarter. it issals increasing the number of stores that it plans to close. all right. let's get back to the nasdaq. andrew. >> hey, thanks, michelle. i am joined by bob greifeld ceo of nasdaq omx. the man of the moment. we hope we can try to figure out what happened here. obviously, a lot of frustration. i don't need to tell you how much frustration. just explain, if you could, what exactly happened? i think most of us don't understand. >> sure. what happens is that we have a data feed which consolidates the trading for 13 exchanges. we do that for the industry. had a problem. as soon as we saw that had a problem, we had a fundamental concern. we few professional traders had access to individual data feeds, be you the traditional long investor, retail investor didn't have the same in
in a strike. do you think that the obama administration could possibly go it alone? >> i think it is becoming increasingly difficult. the momentum seems to be slowing down. if you remember yesterday we were getting records from u.s. officials saying that the train was out of the station, it was too late to dial back, and it was coming and they were talking about it starting today. i can tell you even here we were beginning to make our plans, how we were going to cover the events if suddenly bombs were falling on dadamascus. now, you have the arab league saying it doesn't support military action. the red cross saying it doesn't support it. egypt saying it wouldn't back a military action. the uk labor party wanting to slow things down and have two votes to authorize military strikes. today the administration is supposed to give a briefing about why it believes that chemical weapons were definitively used by the bashar al-assad regime. the longer this goes on i think the less momentum you're going to have and more doubt injected into the process. >> nbc's richard engel for news turkey this morni
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